Siemens profits up
Net profit increased to 1.53 billion euros (2.15 billion dollars) between October and December, the first quarter of the company’s 2009-2010 fiscal year compared to 1.23 billion euros a year earlier, Siemens said in a statement.
Analysts polled by Dow Jones Newswires had forecast a net profit of 864 million euros.
“Earnings for the first quarter provide a gratifying snap-shot of the current situation,” Siemens chief executive Peter Loescher said in a statement.
“The actions we took at a very early stage are now cushioning us from the ongoing repercussions of the global recession,” he said.
“We will continue to tackle all challenges decisively and in a responsible manner. Only such an approach can ensure Siemens’ long-term success.”
Siemens also said its “total sectors” profit, which includes its three industry, energy and healthcare divisions, rose by 11 percent to 2.25 billion euros.
But the industrial group reiterated its forecast of a “total sectors” profit ranging between 6.0 billion and 6.5 billion euros for 2009-2010, compared to 7.5 billion euros in 2008-2009.
“Siemens anticipates that conditions in the manufacturing sector and world financial markets will remain challenging in fiscal 2010,” the group said.
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